2724 E 58th St
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2724 E 58th St
8 Unit Apartment Building $1,590,000 ($198,750/Unit) 4.91% Cap Rate Huntington Park, CA 90255
Investment Highlights
- $198,750 per Unit
- Massive Rental Upside From Long-Term Owner
- Phenomenal Rental Area
- $281 per Square Foot
- 8.6% Cap Rate on Market Rents
- Garage Parking
Executive Summary
Morgan Skenderian is pleased to present 2724 East 58th Street, Huntington Park, an 8-unit apartment building. Built in 1941 and comprised of 100% 1-bedroom/1-bath floor plans, this offering presents significant rental upside potential, with a favorable $198,750 per unit and $281 per square foot, complemented by garage parking and a desirable 8.6% cap rate on market rents. Situated in a phenomenal rental area, this property represents an attractive prospect for an investor seeking an established income-generating asset.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$122,580
|
$21.68
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,064
|
$0.54
|
| Effective Gross Income |
$119,516
|
$21.14
|
| Taxes |
$24,879
|
$4.40
|
| Operating Expenses |
$16,516
|
$2.92
|
| Total Expenses |
$41,395
|
$7.32
|
| Net Operating Income |
$78,121
|
$13.82
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $122,580 |
| Annual Per SF | $21.68 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,064 |
| Annual Per SF | $0.54 |
| Effective Gross Income | |
|---|---|
| Annual | $119,516 |
| Annual Per SF | $21.14 |
| Taxes | |
|---|---|
| Annual | $24,879 |
| Annual Per SF | $4.40 |
| Operating Expenses | |
|---|---|
| Annual | $16,516 |
| Annual Per SF | $2.92 |
| Total Expenses | |
|---|---|
| Annual | $41,395 |
| Annual Per SF | $7.32 |
| Net Operating Income | |
|---|---|
| Annual | $78,121 |
| Annual Per SF | $13.82 |
Property Facts
| Price | $1,590,000 | Apartment Style | Low Rise |
| Price Per Unit | $198,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.91% | Building Size | 5,654 SF |
| Gross Rent Multiplier | 12.97 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1941 |
| Property Type | Multifamily | Parking Ratio | 0.88/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,590,000 |
| Price Per Unit | $198,750 |
| Sale Type | Investment |
| Cap Rate | 4.91% |
| Gross Rent Multiplier | 12.97 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,654 SF |
| No. Stories | 2 |
| Year Built | 1941 |
| Parking Ratio | 0.88/1,000 SF |
Unit Amenities
- Balcony
- Kitchen
- Tub/Shower
Site Amenities
- Fenced Lot
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $1,276 | - |
1 of 1
Walk Score ®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 6309-029-005 | Total Assessment | $827,510 (2024) |
| Land Assessment | $246,281 (2024) | Annual Taxes | $24,879 ($4.40/SF) |
| Improvements Assessment | $581,229 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
6309-029-005
Land Assessment
$246,281 (2024)
Improvements Assessment
$581,229 (2024)
Total Assessment
$827,510 (2024)
Annual Taxes
$24,879 ($4.40/SF)
Tax Year
2023
-
Doug Rodermund -
Rick Applebaum -
Morgan-Skenderian Investment Real Estate Group
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2724 E 58th St
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